No license issued under this chapter may be transferred without the approval of the city council. Any transfer of stock of a corporation licensee is deemed to be a transfer of the license, and a transfer of stock without prior city council approval is grounds for revocation of the license. An application to transfer a license shall be treated the same as an application for a new license, and all of the provisions of this code applying to applications for a license shall apply. (Ord. 78, 6th Series, eff. 7-6-2015)